The market has stabilized, the first signs of a downtrend appeared

October 4, 2019 6:42:00 AM by Patrick Yang
Forecast Details
PairEURJPY
Direction Sell
StatusClosed (118.8)
Start
End
Oct. 4, 2019
Oct. 11, 2019

-105 p
118.80
Stop Loss
117.75
Entry
+135 p
116.40
Target 1
Chart & Analyst Comments
The market has stabilized, the first signs of a downtrend appeared
  1. For a while now, the Current Ratio indicator provides an opportunity for Short trade. We are using this signal as a basis for today’s trading forecast.
  2. There is an increase in Sell Orders when the price attempts to move down. We expect an upward movement to eliminate the accumulated sellers. We recommend to set Sell Limit at 117.75.
  3. This cluster of orders acts as a resistance. For our forecast, stop loss is reasonable to set higher than this cluster.